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CHOROS System

  • #16,241
  • Jun 2, 2021 6:01am Jun 2, 2021 6:01am
hi everyone
I'm having problems with autopivot
My screen appears: sunday bar ignored
with use_sunday_data: true or false
should i choose true or false and let sunday bar ignored go away
thank you very much
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  • #16,242
  • Jun 2, 2021 6:31am Jun 2, 2021 6:31am
Quoting voynich
hi everyone I'm having problems with autopivot My screen appears: sunday bar ignored with use_sunday_data: true or false should i choose true or false and let sunday bar ignored go away thank you very much {image}
"true"
  • #16,243
  • Jun 4, 2021 4:18am Jun 4, 2021 4:18am
The price reacted in RN/HL yesterday, creating a scoop up on the GU
+ 15p
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  • #16,244
  • Jun 9, 2021 9:18am Jun 9, 2021 9:18am
hi kotas, sesam and every body
I have 1 win and 1 loss today
but I want to ask a question with the losing command:
Buy GU at consolidation 10/35/50
lose: - 7pip
My question is
good uptrend
10H1*35/50 . confluence
Am I doing something wrong with this GU buy order or is this just a business expense?
thanks
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  • #16,245
  • Jun 9, 2021 9:46am Jun 9, 2021 9:46am
Quoting voynich
hi kotas, sesam and every body I have 1 win and 1 loss today but I want to ask a question with the losing command: Buy GU at consolidation 10/35/50 lose: - 7pip My question is good uptrend 10H1*35/50 . confluence Am I doing something wrong with this GU buy order or is this just a business expense? thanks {image}
Correct me if I'm wrong but I think the MA's need to be steeper and also the there were previous touches on the MA's.
  • #16,246
  • Jun 9, 2021 10:21am Jun 9, 2021 10:21am
Quoting StewieG
{quote} Correct me if I'm wrong but I think the MA's need to be steeper and also the there were previous touches on the MA's.
I think:

ma gradientghost line slope is only relative
Over the past 11 years, kostas has made multiple purchases when 35/50 splits or slopes very little
I still don't really understand trading at 35/50
hope the experienced dancers will show us more
  • #16,247
  • Jun 9, 2021 10:28am Jun 9, 2021 10:28am
Quoting voynich
hi kotas, sesam and every body I have 1 win and 1 loss today but I want to ask a question with the losing command: Buy GU at consolidation 10/35/50 lose: - 7pip My question is good uptrend 10H1*35/50 . confluence Am I doing something wrong with this GU buy order or is this just a business expense? thanks {image}
Hi voynich, my 2 cents: The first trade was not a totally bad one, you could expect something like a "soft landing" on the MAs followed by a break of the flag-like structure. There was not much room though and the flag was kind of messy, almost a porcupine. Price had struggled in this area before as well.

The second trade was really beautiful, steep MAs and confluence. I waited for a close of the M15 below the pivot before entering. Left many pips on the table as usual, this was a powerful move down.

Your trading shows a lot of discipline, I think you are on a really good path here!
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  • #16,248
  • Jun 9, 2021 11:51am Jun 9, 2021 11:51am
Quoting voynich
hi kotas, sesam and every body I have 1 win and 1 loss today but I want to ask a question with the losing command: Buy GU at consolidation 10/35/50 lose: - 7pip My question is good uptrend 10H1*35/50 . confluence Am I doing something wrong with this GU buy order or is this just a business expense? thanks {image}
Hi.
Both of them were excellent entered and managed.
Sometimes it just don t work..
well done
Guido
Risiko birgt immer auch die Chance.
  • #16,249
  • Jun 9, 2021 8:41pm Jun 9, 2021 8:41pm
Quoting That guy
{quote} Hi voynich, my 2 cents: The first trade was not a totally bad one, you could expect something like a "soft landing" on the MAs followed by a break of the flag-like structure. There was not much room though and the flag was kind of messy, almost a porcupine. Price had struggled in this area before as well. The second trade was really beautiful, steep MAs and confluence. I waited for a close of the M15 below the pivot before entering. Left many pips on the table as usual, this was a powerful move down. Your trading shows a lot of discipline,...
many thanks: mr. that guy
i'm just a newbie with choros,
so I want to learn more from experienced dancers like you and kostas, seam, bridland, ieor4 ....
- according to priceaction, I bought into a strong resistance area (photo 1). But according to choros, we are only interested in support resistance which is the confluence of MA.HTF and PV/RN
Question 1: do I stick to the core principle of choros and buy it, treat it as a cost of doing business or need to identify strong SR zones by priceaction and avoid trading in these zones
- Kostas1 teaches hedgehogs: hedgehogs are candles with long beards that break both upper and lower. If it follows H1, the price corrects 3bar and I mean not a hedgehog (PHOTO2)
Question 2: Am I understanding this wrong?
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  • #16,250
  • Jun 10, 2021 12:17am Jun 10, 2021 12:17am
Quoting voynich
hi kotas, sesam and every body I have 1 win and 1 loss today but I want to ask a question with the losing command: Buy GU at consolidation 10/35/50 lose: - 7pip My question is good uptrend 10H1*35/50 . confluence Am I doing something wrong with this GU buy order or is this just a business expense? thanks {image}
like sesam already stated both are nice setups.

you just have to keep in mind that the hitrate is below 100%.

i would say for experienced traders its about 70%. so from 10 trades 3 are loosers.
trading is like dancing, don't think and just listen to the music!
  • #16,251
  • Jun 10, 2021 1:32am Jun 10, 2021 1:32am
Quoting birdland
{quote} like sesam already stated both are nice setups. you just have to keep in mind that the hitrate is below 100%. i would say for experienced traders its about 70%.
This is about right. From that 30% that doesn't work, many of them can give some pips (8 to 15pips) before failing. So they can become winners if your targets are nimble.
Some others can be avoided if you look left on the chart (strong S/R as voynich correctly identified).
But for beginners, keep it simple, use basic rules, stick to 1-2 kind of trades only (preferably 35/50), stick to 1-2 currencies (preferably 1) that you really spend time on the charts with.
As you become experienced with the CHOROS trades you will start noticing other things and understand how the particular currency reacts to different situations. At that time if you are not greedy you will learn to avoid some losers. Getting around 80% winners is a reasonable target.
  • #16,252
  • Jun 10, 2021 2:39am Jun 10, 2021 2:39am
Quoting voynich
{quote} many thanks: mr. that guy i'm just a newbie with choros, so I want to learn more from experienced dancers like you and kostas, seam, bridland, ieor4 .... - according to priceaction, I bought into a strong resistance area (photo 1). But according to choros, we are only interested in support resistance which is the confluence of MA.HTF and PV/RN Question 1: do I stick to the core principle of choros and buy it, treat it as a cost of doing business or need to identify strong SR zones by priceaction and avoid trading in these zones - Kostas1...
Hi voynich, many of your questions come down to personal trading style. The following comments are just my opinion, others trade differently:

In you original post you wrote about confluence of H1 10 and 35/50. This is not a real confluence in my book because only in extreme cases there will be no such confluence (H1 10 EMA is very similar to a H15 40 EMA). A better confluece would be other, higher TF MAs and round numbers, pivots etc. like in your second trade - that one had a lot of confluence going on.

The first trade is what I call a "hero trade". You are trading a breakout of a range / resistance. If it works, there will be a strong move and you'll be the hero of the day. In this case, your take profit could have been way higher. Note however how many times H1 35/50 has failed before (that's why price is in a range).
One famous quote from another trader (Tom Dante) applies here: "Successful trading is like getting pregnant. Everybody congratulates you when you manage it but nobody asks how many time you got f***** first" (and people in forums only show the successful trades).

My personal rules for such a trade include: Well-defined support / resistance (not an area, but a line) and at least three previous touches. Sometimes I take the third touch for a breakout, but only if there is a nice setup on the lower times frames that allows my to define a good stop for protection. You can look at higher TFs like D1 and round numbers for clues (I suggest adding at least the 100 pip lines to your chart).

Always ask yourself what you are trading. Usually, Choros trades pullbacks in a trend for continuation. If there is no trend you can also try to use it to trade breakouts, but personally I would add some additional criteria for this as outlined above. Going with the trend is always easier.

As others have noted, you were a bit unlucky with this particular trade. There was some rejection going on from the MAs, and expecting 10-15 pips was not unreasonable.

Edit: If you were not trying to trade a breakout, you were trading a move into the upper end of a range, and your entry was not far below it. This is not really a high probability trade since you are trying to squeeze out the last few pips of a move.
Can this work? Yes.
Are there other setups with a higher probabilty of working out? Definitely.
  • #16,253
  • Jun 10, 2021 8:48am Jun 10, 2021 8:48am
Today's only order
buy GU: ema10*10H4 * 2bar *
+10 pips and leaves a lot of money on the table
reason:
at the time of entering the GU buy order, the EU price dropped sharply (black ring on EU),
That made me hesitant and only took 10pip GU (normally I would put 20pip TP near the top RN)
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  • #16,254
  • Edited 2:49pm Jun 10, 2021 10:39am | Edited 2:49pm
Quoting voynich
the EU price dropped sharply (black ring on EU), That made me hesitant and only took 10pip GU (normally I would put 20pip TP near the top RN) {image} {image}
Took it late yesterday
Bounce 5/50 10/15
out with 20 green
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Risiko birgt immer auch die Chance.
  • #16,255
  • Jun 14, 2021 2:44am Jun 14, 2021 2:44am
Quoting voynich
Today's only order buy GU: ema10*10H4 * 2bar * +10 pips and leaves a lot of money on the table reason: at the time of entering the GU buy order, the EU price dropped sharply (black ring on EU), That made me hesitant and only took 10pip GU (normally I would put 20pip TP near the top RN) {image} {image}
I think this was a great trade, don't worry about the missed pips. This was during the ECB press conference, and price can fluctuate wildly and reverse at any time depending on what is being said.
  • #16,256
  • Jun 16, 2021 2:12pm Jun 16, 2021 2:12pm
Hi i would like to ask about the 3 areas marked on the m15. I am asking mostly because of where price is on the h1
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  • #16,257
  • Jun 16, 2021 2:26pm Jun 16, 2021 2:26pm
Quoting FxOlympian
Hi i would like to ask about the 3 areas marked on the m15. I am asking mostly because of where price is on the h1 {image}
scoop-up from the EMA 50.
not a great trade in this case, the H4 10 was in the way, but good enough for 20-30 pips.
  • #16,258
  • Jun 16, 2021 2:49pm Jun 16, 2021 2:49pm
Quoting kostas1
{quote} scoop-up from the EMA 50. not a great trade in this case, the H4 10 was in the way, but good enough for 20-30 pips.
Thank you for the quick reply. These type of trades always irritate me because i don't know whether to take them or not. I have decided to try this strategy for real and give it all my attention. I will post my trades for critique. I learn better when someone can occasionally point out my stupidity when i slip up. But i do learn eventually. Although the dance and Choros threads have already pointed out a lot of stupid slip ups.
  • #16,259
  • Jun 16, 2021 3:12pm Jun 16, 2021 3:12pm
Quoting FxOlympian
{quote} Thank you for the quick reply. These type of trades always irritate me because i don't know whether to take them or not. I have decided to try this strategy for real and give it all my attention. I will post my trades for critique. I learn better when someone can occasionally point out my stupidity when i slip up. But i do learn eventually. Although the dance and Choros threads have already pointed out a lot of stupid slip ups.
You sound like a clever guy. Stick to it, use patience and as Clay said "never ever give up". Better to leave scoops for later though.
  • #16,260
  • Jun 16, 2021 7:50pm Jun 16, 2021 7:50pm
Took this in the simulator. Although i was stopped out because of my small stop loss it still went against me and i would have lost the trade either way. It seems to be the first touch. I took it after the small inside candle
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